Former BAX Global leader Joey Carnes this week became chairman and CEO of MIQ Logistics, where he'll work with former BAX hand John Carr, president and COO.

Carnes joins his former colleague at MIQ in the first week of the company's independence from YRC Worldwide, which founded it in 2002 as Meridian IQ.

YRC Worldwide sold the logistics unit, which it renamed YRC Logistics, to private equity firm Austin Ventures for $38.7 million, completing the deal Aug. 16.

"With the support of Austin Ventures, we have a unique opportunity to capitalize on the growth potential available in today's market," Carnes said.

That potential is growing as companies rebuild supply chains strained by the recession in an uncertain recovery, with ongoing emphasis on flexibility, he said.

Carnes was president of BAX Global from 1999 until its acquisition by German logistics and transportation giant Deutsche Bahn, parent of Schenker AG, in 2004.

Since then, he has been an advisor to Schenker. Prior to BAX, Carnes was an executive at Fritz Companies, a freight forwarder later purchased by UPS.

Source:JOC